Global Financial Group Inc. is seeking recognition from the B.C. Securities Commission to operate the e-globe x-change as a securities exchange, which will focus on the listing and trading of real estate backed securities.

On May 15, the company submitted to the BCSC its draft materials and documentation in support of an application for recognition to operate egX as a recognized securities exchange.

The BCSC reviewed the draft application materials submitted by the company. On July 31, following a number of meetings and discussions between egX management and key personnel at the BCSC, egX received a response letter from the BCSC. The BCSC letter contained comments and questions regarding certain business and regulatory matters which the company was required to address before filing its final application for recognition. Management reports that it has now responded and filed with the BCSC replies that are intended to address all matters contained in the July 31 BCSC letter to the company.

Subject to any further comments or requirements the BCSC may have, the company is now prepared to file its final application for recognition with the BCSC in accordance with the provisions of National Instrument 21-101 to operate egX as a recognized securities exchange with a view to be published for public comment.

The company would also like to announce the addition of the following personnel to its team of professionals. Joining the company are:

– Wade Cox as manager, trading and disclosure/compliance. Cox worked as an investigator for Market Regulation Services Inc. and in trading control for four years with the former Vancouver Stock Exchange. Prior to joining RS, Wade spent four years as an investment advisor and trader for a Vancouver investment dealer.

– Sean Curley as listings analyst. Curley is a chartered financial analyst and served as an analyst in the listed issuer services department of the TSX Venture Exchange for the previous six years.

– Rose Wickstead as office manager. Wickstead served as an executive assistant at RS and the TSX Venture Exchange for the previous six years.

“We continue to attract very capable industry professionals to our group. It is a pleasure to work with our growing management team as we prepare to launch and establish egX as a national exchange for the listing and trading of real estate backed securities,” said Leo Chamberland, president and CEO of Global Financial Group.

“The relocation of the company’s headquarters to 200 Granville St. in Vancouver is complete. We currently occupy 3,200 sq/ft of office space on the second floor of the building. In addition, effective Dec. 1, we will occupy an additional 3,600 sq/ft of office space also located on second floor at 200 Granville St. to accommodate additional egX operations staff members.”